---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-010584"
form_type: "8-K"
ticker: "PENG"
cik: "0001616533"
company_name: "Penguin Solutions, Inc."
filed_at: "2023-04-04T23:59:59+00:00"
generated_at: "2026-06-17T06:29:05.395251+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SGH Q2 FY23: Non-GAAP EPS $0.76 beats guidance; revenue $429M down 4.5%

## Summary
- GAAP net loss $27.2M ($0.55 loss per share) vs. profit $2.5M a year ago; Non-GAAP net income $37.6M ($0.76 EPS) above high end of guidance.
- Non-GAAP gross margin 28.9% (up 290 bps YoY) and GAAP gross margin 25.7% (up 60 bps YoY).
- Record IPS segment revenue of $222M; total net sales $429M down 4.5% YoY.
- Cash and equivalents $376M; CEO cites resilience, strategic investments in AI/ML and data analytics.

## SEC filing metadata
- accession: 0001628280-23-010584
- form_type: 8-K
- ticker: PENG
- cik: 0001616533
- company_name: Penguin Solutions, Inc.
- filed_at: 2023-04-04T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616533/000162828023010584/0001628280-23-010584-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616533/000162828023010584/sgh-20230404.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-010584
- JSON: https://secwatch.observer/filing/0001628280-23-010584.json
- Plain text: https://secwatch.observer/filing/0001628280-23-010584.txt

## Key facts
- Earnings Releases
  Penguin Solutions, Inc. reported second quarter of fiscal 2023 results: revenue $429 million, net income (27.2), EPS $(0.55).
  - Period: second quarter of fiscal 2023
  - Revenue: $429 million
  - Net income: (27.2)
  - EPS: $(0.55)
  - Result: reported results
  source text: Second Quarter Fiscal 2023 Highlights • Net sales of $429 million, down 4.5% versus the year-ago quarter • GAAP gross margin of 25.7%, up 60 basis points versus the year-ago quarter • Non-GAAP gross margin of 28.9%, up 290 basis points versus the year-ago quarter • GAAP EPS of $(0.55) versus $0.04 in the year-ago quarter • Non-GAAP EPS of $0.76 versus $0.87 in the year-ago quarter • Cash and cash equivalents of $376 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1616533/000162828023010584/0001628280-23-010584-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.